Pandemic Proofing Your Marketing - Primerus
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2/26/2021 Pandemic Proofing Your Marketing Tea Hoffmann, Esq. Managing Principal Law Strategy Coach teahoffmann@lawstrategycorp.com 1 • Change Happens • Some Thinks Remain the Same Agenda • The Process • Clients Matter • Planning for Success • 90‐Day Challenge 2 1
2/26/2021 Created in 1991 • Buy and Sell Things • Market Ourselves and Our Firms Internet • Delivery of Goods and Services • Amount of Information We Consume • Speed of Communication • Way We Deliver Our Message 3 • The first cell phone was invented in 1973 by Motorola • The first widely used cell phone was the Siemens Mobiltelefon C1, which came in the form of a suitcase was sold in 1985 Communication • 1994 first Smart Phone • 2007 first I‐Phone • The current global population of 7.7 billion people means the smartphone penetration rate is at 45.4 percent 4 2
2/26/2021 Technology • McKinsey estimates that 23% of work done by lawyers can be automated by existing technology • 57% of firms surveyed said that they budgeted for technology • Wolters Kluwer’s 2019 report “The Future Ready Lawyer” • Leading (49% of law firms): Effectively leveraging technology today and will continue to invest • Transitioning (47% of law firms): Somewhat leveraging technology, and plan to invest more • Trailing (4% of law firms): Not currently leveraging technology and have no plans to do so • According to the Survey, 68% of Technology Leading law and business services firms report increased profitability from 2017 to 2018, compared to just 52% of Transitioning firms. 5 Competition 6 3
2/26/2021 Pandemic • Remote work • Less travel • Technology in courtroom • Reduced staff • Real estate reviews • Agility • Less significant revenue impact than anticipated 7 Why Does This Matter? 8 4
2/26/2021 • Most lawyers don’t enjoy or understand sales The Gap • Most firms do not provide training required to develop business • Many lawyers believe they cannot play a role in Mkt/BD/CD process • Most firms have no written plan for Mkt/BD/CD • Firms spend, on average, about 3% of revenue on Mkt/BD/CD as compared to 12% by other professional service firms • Most firms are understaffed in the Mkt/BD/CD area 13 Bridge the Gap 14 7
2/26/2021 Focus 15 Profitability Culture Long Term Law Firm Objectives Staffing – All Impacted by Mkt/BD/CD Process Client Care/Retention Client Acquisition Branding/Reputation 16 8
2/26/2021 Clients Still Matter • “There are two kinds of lawyers: lawyers with clients; and lawyers who work for lawyers with clients.” • You could say there is only one kind of law firm – a law firm with clients. 17 18 9
2/26/2021 19 According to Clio's 2018 Legal Trends Report, only 4 percent of the nearly 2,000 lawyers surveyed regularly collect formal client feedback in the form of surveys, interviews, etc. 20 10
2/26/2021 Consider Asking… • Why did they choose your firm? • Did they explore other firms before • What aspect of your firm is most choosing yours? important to them? • Do they know what other practice • What do they NOT like about your areas your firm provides? firm? • Is diversity important to them? • What could you be doing better? • How important is the firm’s • Was the service level what they community and civic involvement ? expected? • Would they refer work to your firm? • Was your firm responsive to their needs? • Did the firm meet your budgeting expectations? • Do firm rankings, testimonials, matter? 21 Most firms… Competitive Firms… 22 11
2/26/2021 Profitability Culture Long Term Law Firm Objectives Staffing – All Impacted by Mkt/BD/CD Process Client Care/Retention Client Acquisition Branding/Reputation 23 • What practice area/industry should you promote? Why? • What practice area is the most profitable? • What is our firm known for? What do we want to be known for? • Is our entire firm engaged in promoting our brand? • What type of new clients are we seeking? • What tactics have worked in the past? • Who is your best client developer? Are you Analyze, Strategize, awarding them for their efforts? Prioritize and Plan • Are we expanding work within our existing clients? 24 12
2/26/2021 • Set 90 days short‐term Mkt/BD/CR goals based on long term objectives. • Objective: To Increase the firm’s reputation in the agriculture practice area over the next 90 days our group will: • Create compelling content ‐ Publish 2 blog Set Short Term posts • Post on social media – Weekly posts on social Goals media with valuable content • Speak at trade group meeting – Contact trade association and seek opportunities, present to the group • Update bios of the team – Pull existing bios and do a training on better bios • Accountability 25 26 13
2/26/2021 How Brave Are You? • Where do you need to focus? • What short term goal should you set? • How much will it cost? • How do you communicate/achieve buy‐in? • How much time will it take? Realistic? • Who should be involved? • How will you measure success? • What is the desired outcome? • What is the next short‐term goal? 27 • If you accept the 90‐Day Challenge and would like to talk to me about your short‐ term goals, please reach out to me at teahoffmann@lawstrategycoach.com. • If you are interested in learning more about our online training platform to propel your lawyers to a greater understanding of Thank you… Mkt/BD/CD please email me and I will send you a link to a free lesson. Check it out at lawstrategycoach.thinkific.com. • If you would like to know more about the services we provide, I would be delighted to talk with you. 28 14
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